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Aldi
Aldi is a leading global discount supermarket chain with over 9,000 stores in over 18 countries, and an estimated turnover of more than €50bn. Based in Germany, the chain was founded by brothers Karl and Theo Albrecht in 1946 when they took over their mother's store in Essen which had been in operation since 1913; it is one of the world's largest privately owned companies. The brothers built up a chain of stores until, by 1960, they owned 300 shops, and split the operation into two separate groups: Aldi Nord - which operates as Aldi Markt, headquartered in Essen; and ALDI Sud - which operates as ALDI Süd, headquartered in Mülheim an der Ruhr. The two operate independently, each within specific areas. In 1962 they introduced the name Aldi (short for Albrecht Diskont). Aldi Nord and Aldi Süd have been financially and legally separate since 1966, although both divisions' names may appear (as if they were a single enterprise) with certain house brands or when negotiating with contractor companies. The formal business name is ALDI Einkauf GmbH & Compagnie, oHG. History Karl and Theo Albrecht's mother opened a small store in a suburb of Essen in 1913. Their father was employed as a miner and later as a baker's assistant. Karl Albrecht was born in 1920 and Theo Albrecht was born in 1922. Theo Albrecht completed an apprenticeship in his mother's store, while Karl Albrecht worked in a delicatessen. Karl Albrecht took over a food shop formerly run by F. W. Judt and later served in the German Army during World War II. In 1946, the brothers took over their mother's business and soon opened another retail outlet nearby. By 1950, the Albrecht brothers owned 13 stores in the Ruhr Valley. The brothers' idea was to subtract the legal maximum rebate of 3% before sale. The market leaders at the time, which often were co-operatives, required their customers to collect rebate stamps and to send them at regular intervals to reclaim their money. The Albrecht brothers also rigorously removed merchandise that did not sell from their shelves, cutting costs by neither advertising nor selling fresh produce and keeping the size of their retail outlets small. The brothers split the company in 1960 over a dispute about whether they should sell cigarettes. Karl believed that they would attract shoplifters while his brother did not. At the time, they jointly owned 300 shops with a cash flow of DM90 million yearly. In 1962, they introduced the name Aldi—short for 'Al'brecht-'Di'skont. Aldi Nord and Aldi Süd have been financially and legally separate since 1966. The individual groups were originally owned and managed jointly by the brothers. After Berthold's death, Aldi Nord continues to be controlled by the Albrecht family through its Markus, Lukas and Jakobus foundations, which hold a combined 80.5 percent of the company's issued capital. Aldi started to expand internationally in 1967, when Aldi Süd acquired the grocery chain Hofer in Austria. Aldi Nord opened its first stores abroad in the Netherlands in 1973, and other countries followed. In 1976, Aldi opened its first store in the United States in Iowa, and, in 1979, Aldi Nord acquired Trader Joe's. After German reunification and the fall of the Iron Curtain, Aldi experienced a rapid expansion. The brothers retired as CEOs in 1993; control of the companies was placed in the hands of private family foundations, the Siepmann Foundation (Aldi Süd) and the Markus Foundation (Aldi Nord, Trader Joe's). Chains * Aldi * Aldi Suisse (Switzerland) * Hofer (Austria) * Trader Joe's (United States) Category:Supermarkets Category:Retailers by type Category:Retailers Category:Department stores Category:Discount stores Category:Big-Box Stores Category:Stores